Household budgets likely saw a modest rise in November, having to shell out more on staples such as onions and dals. Meanwhile, non-food components continued to provide relief.
Retail inflation stood at 5.55% in November, compared with 4.87% in October.
The rise was led by food and beverage inflation at 8.02% in November, as compared with 6.24% in October. Once again, onions—a key staple in Indian kitchens—brought tears to consumers. While prices were up by 86.5% from a year ago, they were up by 11.4% from the previous month.
Pulses inflation remained elevated at 20.2%. Inflation in spices rose to 21.6%.
High-frequency food prices in the first two weeks of December show that vegetable prices have moderated, reflecting improved supply dynamics. However, the moderation is much less than the usual winter season decline, said Gaura Sen Gupta, India economist at IDFC First Bank.
Utilities, too, showed mixed trends. While electricity bills remained elevated compared to a year ago, air fares declined compared to the same month last year, as per Ministry of Statistics and Programme Implementation data.
Gold inflation rose, coming in at 17.6% for November. However, relief on clothing, footwear and housing continued.
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